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South Korean President Moon Jae-in on Monday said that Seoul will actively collaborate in India's 'Make in India' flagship initiative.

Speaking at the India-Korea business forum, organised by Federation of Indian Chambers of Commerce and Industry (FICCI), President Moon said both India and South Korea are strong partners in the Information and Technology (IT) sector.

He further said that the two countries can expand their bilateral relations in other key fields such as shipbuilding, medical devices, food processing, and large-scale infrastructure.

On his new policy outreach 'New Southern Policy', President Moon emphasised, "My new southern policy is aligned with Prime Minister Modi's Act East Policy. Both the policies will come to completion when prosperity spreads across the whole of Asia. I suggest future-oriented cooperation with a 3P+ approach that goes beyond the 'New Southern Policy' of Korea that focuses on people, prosperity and peace.

"Combining the New Southern Policy with the Act East Policy will diversify our cooperative channels, thereby, establishing a starting point to become leading manufacturing countries," he added.

He invoked the historical links shared between India and South Korea in the ancient times. "India and Korea have a long-standing history of exchange you are a friend who helped us in time of need. India sent its medical units during the Korean War and cared us with a warm touch of their hand," President Moon noted.

Stressing to raise bilateral relations between the two countries beyond economic cooperation, he said, "We are committed to raising Korea's relations with India to the level as those with four major powers around the Korean Peninsula. This commitment is embodied in my new Southern Policy that aims to move beyond economic-cooperation to building a prosperous and people-centric community of peace."

President Moon underscored that the South Korean government is willing to participate in the Smart City project. "The Indian government is planning to build 100 smart cities and construct industrial corridor to link the major cities. It is our wish to participate in these infrastructural projects as well," he added.

On a lighter note, President Moon revealed that her daughter is a yoga instructor. He underscored that the citizens in the country kept themselves fit by doing yoga exercises. Stressing on the expansion of free trade, he noted, "This is an important agenda for the South Korean government to take our bilateral relations beyond the economic domain. We are keen on expanding bilateral trade so that the prosperity between the two countries is upheld in the future."

President Moon invited Indian entrepreneurs to invest in South Korea. Commenting on the success of the inter-Korean and US-North Korea summit, President Moon further said,

"These summits opened a path to establish peace on the Korean Peninsula. With this, the Korean's investment climate will improve and more business opportunities will be created." President Moon is currently on a three-day visit to India, having arrived on Sunday evening.